Athentek, a Taiwanese maker of wearable tracking devices, raised $7 million in Series A financing. Foxconn led the round with participation from Testrite Group, CSVi Capital, MediaTek Inc and others.
TAIPEI, Taiwan, Feb. 19, 2016 /PRNewswire/ — Athentek, the innovator of smart location technologies, today announced $7M in Series A financing. Foxconn led the round, joined by Testrite Group, CSVi Capital, MediaTek Inc., and other well-respected industry leaders. Athentek will use the capital to expand its design and research teams in the U.S. and Taiwan, while continuing to grow its business development capabilities internationally.
The financing follows the company’s successful Circo product launch in Hong Kong. Circo is the first in a family of smart wearable devices that keep everyone you love in a close-knit circle. csl Mobile is Athentek’s launch partner, and Circo is available now in csl retail stores, with partners in other countries to be announced shortly.
“We are very excited to launch Circo, a smart tracker pushing user experience to the next level with intelligent positioning and behavioral analysis algorithms,” Athentek CEO Yi-Hsiu Wang said. “We are equally thrilled to be recognized by these industry leaders participating in our first round of financing. Our goal is simply to make everyday life easier and safer.”
“There are huge opportunities in the smart wearable devices, and Athentek is bringing innovative solutions to market with cloud-based intelligent learning algorithms,” said Mingto Yu, former CFO of MediaTek and Xiaomi. “We believe Athentek’s technologies can easily go beyond smart wearable devices, and Internet-of-Things won’t reach its true potential without the intelligence behind them.”
Athentek is an innovative and rapidly-growing startup company focused on the security applications of our smart location technologies. Our mission is to provide the best user experience through tight integration of a wearable device, application software, and cloud services. For more information, visit www.athentek.com